Children's Broadcasting Corporation Announces Stock Repurchase Program.MINNEAPOLIS--(BUSINESS WIRE)--Sept. 15, 1998--Children's Broadcasting Corporation ("CBC (1) (Cell Broadcast Center) See cell broadcast. (2) (Cipher Block Chaining) In cryptography, a mode of operation that combines the ciphertext of one block with the plaintext of the next block. ") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AAHS AAHS American Aviation Historical Society AAHS Aromatic Acid: H+ Symporter AAHS American Association for Hand Surgery AAHS Athens Area High School (Pennsylvania) AAHS Ambridge Area High School (Pennsylvania) ) announced today that its board of directors authorized a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program pursuant to which CBC has acquired 385,000 shares, or approximately 5.6% of its outstanding common stock, at at average cost per share of approximately $3.187, including commissions. Repurchased shares are considered authorized but unissued. Following the repurchases to date, CBC had 6,484,004 shares of common stock issued and outstanding. Christopher T. Dahl, CBC's president and chief executive officer, stated that the board of directors believes the repurchase program reflects CBC's opinion that its common stock is undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. in the market and represents a good investment. CBC, the creator of Aahs World Radio(SM), is the owner of 44.1% of the outstanding shares of Harmony Holdings, Inc. (Nasdaq: HAHO), one of the largest television commercial production companies in the United States. CONTACT: Children's Broadcasting Corporation Christopher T. Dahl, 612/338-3300 |
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